Form S-1
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Form S-1 is a the most basic form filed to register securities, for which no other form is authorized. This form is most typically seen filed in initial public offerings (IPOs).
[edit] Form Uses
This form is used to gain financial and other material information about a company that is issuing securities. The most common use for this form is in initial public offerings, where it can offer insight into a company's valuation and business operations.
[edit] Reading the Form
There are three major portions of the S-1 form:
- Letter to Shareholders from Parent Company - This can give you a nice history of the parent company, their reason for the spin-off, and and other relevent information.
- Information Statement - This section contains all the information investors need to know. Occasionally, portions of this section will be left blank and amended (with S-1/A filings) at a later time.
- Financial Information - This section contains all the financial information, including pro-forma statements. These statements show what the financials would look like if the spun-off division were its own company in the past.